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Friday, November 9, 2007

And the ‘practice group’ survey says…

A recent survey says that despite the time and money law firms invest in their practice groups, more than half of all managing partners and executive directors rate practice group performance overall as average or worse.

The survey -- released by ALM Research and Altman Weil -- reports on practice group structure, performance, operations, leadership, administration and marketing. Practice group operations show surprising deficiencies, according to the survey. More than 40 percent of groups report having no business plan, and more than 60 have no group marketing plan. Only slightly more than one-third of groups meet on a regular monthly basis.

In addition, marketing performance is dismal in most practice groups. When asked to rate their groups on the ability to market, develop new business, and cross-sell other practices, fewer than 20 percent of firm leaders rated their groups as “excellent” or “very good” on any one of those measures.

Practice group leaders have an important job, but little direction, limited professional support and almost no training according to the study.

I’m curious if our local law firm practice group leaders would agree with the results.

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